Sir John Peace - Chairman: Good morning London. Good afternoon to those of you in Hong Kong and in Mumbai. I'm pleased to report that 2012 was our 10th consecutive year of income and profit growth.
Throughout a turbulent decade for the world economy and for banking, we’ve continued to deliver consistent value for our shareholders. Standard Chartered remains a growth story with a modest increase in profits in 2012 and a normalized return on equity of 12.8%.
Clearly, the settlements reach with a DFS and other U.S. authorities had an impact on our profits. But despite this, we are increasing the total amount of dividend paid to shareholders. The Board is recommending a final dividend of $0.5677 per share.
This brings the total annual dividend $0.84 per share, which is up 10.5%, in line with our long track record of performance. We are entering the New Year with strong momentum in both of our businesses.
Now in a moment, Richard will take you through our results in more detail and Peter will talk about our strategy and opportunities we see for growth, but first, there are a few things I'd like to highlight.
Over the last decade, Standard Chartered has delivered consistently not just for shareholders, but for the communities in which we operate. We have tripled the number of people we employ to over 89,000. We have paid an excess of $11 billion in corporate tax. We have increased our lending to clients and customers around five-fold to $289 billion.
Importantly, we have achieved this by sticking to our strategy, focusing on the basics of good banking in markets we know well with clients and customers with whom we have deep and, in many cases, long relationships.
As 2012 showed, there is still work to be done to rebuild public trust in banks. There will therefore be some interest today I am sure in how we reward our management and staff. We’ve not changed our approach. We continue to remunerate our people, not just for what they achieved, but how they demonstrate our values rewarding long-term performance not failure.
Reflecting the Group’s overall performance in 2012 and the impact of the U.S. settlements, our bonus pool is down by some 7%. Once again, the amount paid in bonuses is less than the amount paid to our shareholders by way of a dividend; it’s less than the corporate taxation and well under half of the retained earnings.
We know that we will be held to our brand promise here for good, and we continue to work hard to embed this commitment in everything we do taking a long-term view of our obligations to shareholders, to clients and customers and the communities in which we operate.
2012, in summary, was another good year of performance, thanks to a consistent strategy, a stable management team, supportive clients and customers and shareholders, and above all, our great people. The Board remains confident for the year ahead.
Let me now ask Richard to walk you through the numbers in more detail. Richard?
Richard Meddings - Group Finance Director: Thank you, John. Good morning London and good afternoon Hong Kong and Mumbai. What I will be presenting to you today is another strong set of results, where we have delivered our 10th consecutive year of income and profit growth before and after the settlement costs with the U.S. authorities.